Tagged: ftc

April 6, 2025 @ 6:05 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) highlighted actions taken to protect consumers from impersonations scams since the Government and Business Impersonation Rule took effect in April 2024. Scams impersonating businesses and government are consistently among the top frauds reported to the FTC; these scams resulted in… Read More

March 28, 2025 @ 2:03 pm By Omar Faridi  |  

Online cash advance company Cleo AI has agreed to pay $17 million to settle the Federal Trade Commission’s allegations that the company allegedly “deceived” consumers about “how much money they could get and how fast that money could be available.” The complaint, filed in federal… Read More

March 12, 2025 @ 10:32 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) recently revealed that US consumers reported losing more than $12.5 billion to fraudulent schemes in 2024. This latest figure from the FTC marks a significant 25% increase from the previous year, highlighting a concerning escalation in financial losses despite ongoing… Read More

February 19, 2025 @ 8:05 pm By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) is concerned about the Trump Administration’s policy of keeping its predecessor merger guidelines. In a public statement, the SBE Council said that “arbitrary and muddy guidelines”  pursued by the Federal Trade Commission (FTC) harm opportunities for early-stage firms… Read More

December 31, 2024 @ 8:22 am By Omar Faridi  |  

The US Department of Justice (DOJ), together with the Federal Trade Commission (FTC), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer, and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and… Read More

November 5, 2024 @ 7:24 am By Tony Zerucha  |  

The  FTC’s new “click-to-cancel” rule, designed to simplify the process of ending subscriptions, has created a stir, putting additional pressure on subscription businesses to reassess their strategies. Research from payment processor Solidgate suggests the problem is dire. Solidgate surveyed 1,000 adults and found that 25%… Read More

November 2, 2024 @ 4:23 pm By Omar Faridi  |  

The Federal Trade Commission revealed recently that it is sending more than $2.5 million to consumers who were said to be “misled” by “deceptive claims” from credit services company Credit Karma. The FTC reportedly took action against Credit Karma back in 2022, alleging that the… Read More

October 12, 2024 @ 12:06 pm By Michael Wong  |  

In the wake of Hurricanes Helene and Milton, individuals nationwide are contributing to storm relief efforts, with many making monetary donations to charities claiming to assist affected communities. The Federal Trade Commission (FTC) is urging the public to exercise caution to avoid falling victim to… Read More

August 7, 2024 @ 9:38 am By Omar Faridi  |  

As a result of a Federal Trade Commission lawsuit, the owners and operators of a sprawling credit repair operation known as Financial Education Services (FES) will end the practices that the FTC alleged “created a pyramid scheme and also violated the Credit Repair Organizations Act.”… Read More

July 29, 2024 @ 11:22 pm By Omar Faridi  |  

FTC Chair Lina M. Khan, alongside international antitrust enforcers and the Department of Justice, Antitrust Division, issued a statement affirming a commitment “to protecting competition across the artificial intelligence (AI) ecosystem to ensure effective competition that provides fair and honest treatment for both consumers and… Read More

June 24, 2024 @ 6:23 pm By Omar Faridi  |  

Federal Trade Commission (FTC) law enforcement actions have reportedly resulted in more than $324 million in refunds to consumers in 2023, the agency said in its annual report on refunds. The FTC Annual Report on Refunds to Consumers provides “a breakdown of the total amount… Read More

May 30, 2024 @ 8:29 am By Omar Faridi  |  

Data from the Federal Trade Commission (FTC) shows that Best Buy/Geek Squad, Amazon, and PayPal are the companies people report scammers impersonating most often. A newly released data spotlight shows that in 2023, consumers “submitted about 52,000 reports about scammers impersonating Best Buy or its… Read More

May 20, 2024 @ 3:12 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) released its Fiscal Year 2023 Annual Report outlining the agency’s work to protect consumers and promote competition. FTC Chair Lina M. Khan said: “The FTC is focused on ensuring that American consumers, workers, and entrepreneurs can enjoy honest markets and… Read More

April 30, 2024 @ 3:58 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) recently issued a key notice, warning consumers of scammers impersonating FTC staff members in “attempts to steal money from innocent victims.” Blockchain firm Chainalysis has analyzed these developments in a comprehensive update. According to the FTC, these scammers typically “fabricate… Read More

April 26, 2024 @ 5:03 pm By Tony Zerucha  |  

This week doxo, a Fintech providing bill-paying services, railed against a lawsuit filed by the U.S Federal Trade Commission,  saying the complaint “indicates a fundamental misunderstanding of the existing bill-pay market and the structural inefficiencies that work against consumers.” In a release, doxo said the… Read More

April 26, 2024 @ 8:43 am By Omar Faridi  |  

The Federal Trade Commission is taking action against bill payment company Doxo and two of its co-founders, charging that the company allegedly “uses misleading search ads to impersonate consumers’ billers and deceptive design practices to mislead consumers about millions of dollars in junk fees they… Read More

February 13, 2024 @ 5:29 pm By Omar Faridi  |  

Federal Trade Commission data show that consumers reported losing more than $10 billion to fraud in 2023, “marking the first time that fraud losses have reached that benchmark.” This marks a 14% increase “over reported losses in 2022.” Consumers reported losing more money “to investment… Read More

October 12, 2023 @ 4:07 pm By JD Alois  |  

Voyager Digital, now bankrupt as part of the crypto collapse of 2022, is in the news once again as the Commodities Futures Trading Commission (CFTC) has filed charges against its former CEO, Stephen Ehrlich. The CFTC is alleging fraud regarding a commodity pool ploy. In… Read More

October 12, 2023 @ 10:39 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) have taken regulatory action against global credit profiling firm TransUnion (NYSE: TRU), claiming the company failed in regard to rental background checks. Additionally, the two agencies claimed TransUnion withheld the names of third parties… Read More

September 26, 2023 @ 3:41 pm By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) has issued a statement hammering the Federal Trade Commission (FTC) and its legal assault on Amazon. Earlier today, the FTC sued Amazon for “illegally maintaining monopoly power.” The FTC claims that  Amazon has pursued a “pattern of… Read More